Vikas Bajaj and Ron Nixon of The New York Times looked at the impact of subprime loans on minority homeownership over the past six years. The very loans that allowed for the purchase of a home are now crippling buyers' finances as interest rates inflate, leading to an increase in delinquencies and foreclosures. "Industry officials say the number of subprime borrowers losing their home and encountering distress is growing and sure to increase because there have been so many more mortgages issued in recent years. But they argue that on balance, subprime lending has been beneficial because it has given people who previously did not have access to credit the ability to buy homes."
The Home Mortgage Disclosure Act database can be obtained from the IRE and NICAR Database Library.